Presidio stockholders will receive $16 a share in cash for each Presidio share they own, a purchase price that represents a 21.3% premium over the company's closing stock price on Tuesday of $13.19.
"We believe this transaction will provide immediate and substantial value to Presidio stockholders, while providing us with a partner that can add strategic and operational expertise to our business, with a focus on executing our long-term strategy," said Presidio CEO Bob Cagnazzi.
BC Partners Chairman Raymond Svider said he believes Presidio will make a good fit in the firm's portfolio.
"Presidio fits squarely with our key investment priorities. Its markets benefit from secular growth, as IT systems and networks have become increasingly complex. It is well positioned as a leader in a fragmented industry, offering scope for further expansion. We're excited to partner with Bob and his team to support the future growth of the business," said Svider.
Presidio shares were up 21.3% to $16 in trading Wednesday.